TFIvsVSDMETF Comparison
VS
State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) and Vanguard Short Duration Tax-Exempt Bond ETF (VSDM) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TFI is more expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.12% for VSDM. TFI is up 0.47% year-to-date (YTD) with +$9M in YTD flows. VSDM performs better with 2.03% YTD performance, and +$1.29B in YTD flows. Run a side-by-side ETF comparison of TFI and VSDM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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TFI vs VSDM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/06/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TFI VSDM | +4.61%+2.48% | -0.07%+0.66% | +0.47%+2.03% | +0.89%+2.63% | +11.66%n/a | -0.83%n/a |
| Flows | TFI VSDM | -$20M+$424M | -$189M+$783M | +$9M+$1.29B | -$46M+$1.36B | -$506M- | -$565M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TFI VSDM | +5.68%+2.77% | +3.57%+1.73% | +4.06%n/a | +4.18%n/a |
| Max drawdown | TFI VSDM | -6.01%-2.74% | -7.00%-2.75% | -7.00%n/a | -14.88%n/a |
| Max drawdown duration | TFI VSDM | 85d81d | 250d120d | 250dn/a | 1513dn/a |
Trading data
TFI | VSDM | |
Last sale 11/6/2026 at 2:30 PM | $44.44 | $76.01 |
| Previous close 11/06/2026 | $44.39 | $75.98 |
| Consolidated volume 11/06/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of November 9, 2026
1-year trailing difference
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VSDM
is actively managed and doesn’t replicate an indexTFI | VSDM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 11/6/2026 at 2:30 PM
Live
Closed
TFI | VSDM | |
|---|---|---|
| Last price | $44.44 | $76.01 |
| 1D performance | +0.11% | +0.04% |
| AuM | $2.95 B | $1.64 B |
| E/R | 0.23% | 0.12% |
Characteristics
TFI | VSDM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | Vanguard |
| Benchmark | ICE 1+ Year AMT-Free Broad Municipal Index | - |
| N° of holdings | 826 | 1008 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 11, 2007 | November 19, 2024 |
| ESG | No | No |
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Exposure
Countries
TFI
USA
42.95%
Other
57.05%
VSDM
USA
43.2%
Other
56.8%
Sectors
TFI
Municipal
42.95%
Other
57.05%
VSDM
Municipal
43.2%
Other
56.8%
Diversification
TFI
Total weight of top 15 holdings out of 15
2.82%
VSDM
Total weight of top 15 holdings out of 15
5.93%
Top 15 holdings
Data as of September 30, 2026
TFI
State of Washington, 5% 1feb2028, USD (2024A)
0.22%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.22%
US373385LV30
0.21%
US574193VL92
0.20%
US764581KP80
0.20%
US010831EC55
0.19%
California, 5% 1nov2032, USD
0.19%
California, 5% 1nov2031, USD
0.18%
City of New York, 5% 1aug2029, USD
0.18%
California Community Choice Financing Authority, 5% 1may2054, USD (2024A)
0.18%
US452152B916
0.18%
US207758N749
0.18%
US13068XJP50
0.17%
US13013JBJ43
0.16%
US64972LBD47
0.16%
VSDM
US01065CAM55
0.64%
Dallas Area Rapid Transit, 5% 1dec2032, USD (2019)
0.55%
California Community Choice Financing Authority, 5% 1jul2053, USD (2023B)
0.45%
US13013JCS33
0.44%
Broward School Board, 5% 1jul2033, USD (2020A)
0.44%
US64990GEZ19
0.44%
US84136HCT86
0.42%
New Jersey Transportation Trust Fund Authority, 5% 15dec2034, USD
0.38%
US84136HAH66
0.35%
New Jersey Transportation Trust Fund Authority, 5% 15dec2032, USD
0.34%
Southeast Energy Authority, 4% 1dec2051, USD
0.30%
Lancaster Port Authority, 5% 1feb2055, USD (2024A)
0.30%
Illinois, 5% 1oct2030, USD (2018A)
0.29%
Southeast Energy Authority, 5.25% 1mar2055, USD (2025B)
0.29%
Kentucky Public Energy Authority, 5% 1jun2034, USD (2026)
0.29%
Frequently asked questions about TFI and VSDM
How have the TFI and VSDM ETFs performed in 2026?
As of November 6, 2026, TFI is up 0.47% year-to-date (YTD), while VSDM has returned 2.03%. That puts VSDM better performer ahead so far this year.
Which ETF is attracting more investor money: TFI or VSDM?
Year-to-date, the TFI ETF saw +$9M in flows, compared to +$1.29B for VSDM.
Which ETF is more volatile: TFI or VSDM?
Over the past year, TFI had a volatility of 3.57%, while VSDM experienced 1.73%.
Which ETF is bigger: TFI or VSDM?
As of November 6, 2026, TFI holds $2.95 B in assets under management (AUM), while VSDM manages $1.64 B.
What sectors do the TFI and VSDM ETFs invest in?
TFI leans toward sectors like Municipal. Meanwhile, VSDM focuses on Municipal.
What are the top holdings of the TFI ETF and VSDM ETF?
TFI top holdings include State of Washington, 5% 1feb2028, USD (2024A), Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B) and US373385LV30. VSDM holds in its top three: US01065CAM55, Dallas Area Rapid Transit, 5% 1dec2032, USD (2019) and California Community Choice Financing Authority, 5% 1jul2053, USD (2023B).
Which ETF is more diversified: TFI or VSDM?
TFI holds 1926 securities with 2.82% of its assets in the top 15. VSDM has 3314 securities and a top 15 weight of 5.93%.
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